I have been approached about leasing my mineral interests in Section 34-15N-16W. $400 bonus/3/16th royalty or $300 bonus/1/5th royalty. I was sent an offer by a land company. Does anybody know what’s happening in Custer County?
There is increasing interest in Custer. You have horizontal wells on either side of you and there is a gap with 27& 34 being open. In my experience, first lease offers are not the best they can do. I always ask who are they leasing for, when will the well be drilled, when will the pooling be. If you have never leased, would recommend that you get an oil and gas attorney to look over the draft lease. They are not generally in the mineral owners favor. You can also wait for pooling as I prefer that in many cases.
As for the bonus amounts, Citizen offered $2000 @ 1/8th, $1500 @ 16.5%, $1000 @ 3/16ths, $0 @ 1/5th in Sec 35 in May 2021. I usually go for the highest royalty even if there is no bonus. Ask if they are offering 1/4th.
I, too, have mineral rights in Custer County & have gone on OCC many times to find out exactly where my interests are but have had no luck. Does someone know of an accessible map that will locate where mine are & what’s going on around or near? The Texas Railroad Commission has GIS maps available for free to the public that I can see exactly where my TX rights are & all the wells, permitted locations, etc are. Does OK have anything like that? Legal description of my rights are: S01, T12N, R15W, W2 SW. Thanks.
OK has a new GIS map. It will show you the wells in your area.
Here is a highway map where you can gt located. Custer County Map.pdf (422.5 KB)
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